document.write( "Question 140421: a. Suppose that a market research company finds that at a price of p = $20, they would sell x = 42 tiles each month. If they lower the price to p = $10, then more people would purchase the tile, and they can expect to sell x = 52 tiles in a month’s time. Find the equation of the line for the demand equation. Write your answer in the form p = mx + b. (Hint: Write an equation using two points in the form (x,p)). \n" ); document.write( "

Algebra.Com's Answer #102262 by stanbon(75887) $\"\"$ $\"About$

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Suppose that a market research company finds that at a price of p = $20, they would sell x = 42 tiles each month. If they lower the price to p = $10, then more people would purchase the tile, and they can expect to sell x = 52 tiles in a month’s time. Find the equation of the line for the demand equation. Write your answer in the form p = mx + b.
\n" ); document.write( "---------------------------------------
\n" ); document.write( "(42,20) and (52,10)
\n" ); document.write( "slope = (10-20)/(52-42) = -1
\n" ); document.write( "-----------------
\n" ); document.write( "Form p = mx + b where p = 20 when x = 42 and m=-1; solve for b:
\n" ); document.write( "20 = -1*42 + b
\n" ); document.write( "b = 62
\n" ); document.write( "-------------
\n" ); document.write( "EQUATION:
\n" ); document.write( "p = -x + 62
\n" ); document.write( "==================
\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H. \n" ); document.write( "

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